Sam Bankman-Fried to suggest revised bail package deal ‘by subsequent week’

The lawyer representing crypto entrepreneur Sam Bankman-Fried (SBF) within the ongoing FTX case will quickly current a revised bail package deal to Decide Lewis Kaplan of the Southern District of New York. The transfer comes after Kaplan expressed displeasure about SBF’s use of encrypted-messaging apps and digital non-public community (VPN) providers whereas out on bail.

Authorized proceedings round FTX’s downfall led SBF to keep away from potential jail time with a $250 million bail bond. Nonetheless, whereas on bond, the entrepreneur used Sign, an end-to-end encrypted messaging service, to contact former FTX and Alameda colleagues. Kaplan forbade SBF from utilizing such apps and threatened to revoke bail privileges if he acted out of order.

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